Oliver Samwer, the billionaire founder of Berlin startup incubator, Rocket Internet, has teamed up with London-based venture capital firm LocalGlobe to back a new property company Goodlord in a £2 million seed funding round.

Cofounded in London in 2014 by former Foxtons estate agent Richard White and brothers Philip and Tom Mundy, Goodlord is an online service that allows tenants to pay their holding deposits, complete their references and sign the agreement from their computer, or mobile phone.

“Our platform connects all the stakeholders and it does it in a way that is transparent and fair to all sides,” said White, the company’s chief executive, in a statement. “Tenants don’t have to leave work early to trudge around flats and fill out paperwork. Tenants want to go and see a property and say ‘Yes I’ll take it’ and for the deal to happen right there.”

Goodlord — already transacting thousands of tenancies a month — said it will use the new funding to hire more people to help build out its infrastructure and to add new features across its platform. The company currently has between 15 and 20 staff.

LocalGlobe cofounder Robin Klein said in a statement: “For too long tenants have felt powerless in a market where transactions were anything but transparent. We believe that Goodlord can transform the way lettings are carried out across the UK and become the backbone of deals in the rental market.”

Samwer pledged the money through his new fund, Global Founders Capital.

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